The Korea Herald

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Sales at discount outlets, department stores fall in July

By Korea Herald

Published : Aug. 22, 2013 - 19:48

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Sales at South Korea’s major discount outlet chains and department stores declined in July from a year earlier as the prolonged rainy season curbed retail sales, the government said Thursday.

According to the Ministry of Trade, Industry and Energy, combined sales of three major discount outlet chains here fell 4.9 percent in July from a year earlier, a turnaround from a 4.2 percent on-year gain in June.

The three discount outlet chains are Lotte Mart, E-Mart and Homeplus.

The government said that sluggish sales at discount outlets mainly came as a long streak of rainy days and restriction on operating hours discouraged consumers from purchasing goods.

In July, the combined sales of three major department store chains ― Hyundai, Shinsegae and Lotte ― fell 2.1 percent from a year earlier, compared with a 4.1 percent on-year gain in the previous month.

But sales at the country’s convenience stores reported an 8.2 percent on-year increase in July due to a rise in sales of foodstuff, according to the ministry.

Sales at the so-called super supermarkets, on the other hand, slipped 3.8 percent on-year last month. (Yonhap News)